Binance CEO Changpeng Zhao Becomes Richest Person in Cryptocurrency

Binance CEO Changpeng Zhao Becomes Richest Person in Cryptocurrency

Changpeng Zhao

Bloomberg estimated that the wealth of Binance CEO Changpeng Zhao currently stands at a staggering $ 96 billion dollars, which officially makes him the richest known person in crypto.

His fortune exceeds that of Indian business tycoon Mukesh Ambani, whose wealth stands at $ 92.9 billion, according to the index Bloomberg Billionaire . CZ is also close to behemoths such as Berkshire Hathway CEO Warren Buffett and Meta CEO Mark Zuckerberg.

Zhao’s fortune could be even greater, as little is known about his cryptocurrency holdings.

The cryptocurrency mogul, who worked at McDonald’s as a teenager, has so far refrained from commenting on the size of his fortune, but he plans to donate the set of his property.

The Wall Street Journal claims that Binance could be worth up to $ 300 billion if it entered in stock exchange. The exchange’s revenues are said to have exceeded $ 20 billion in 2021, eclipsing the numbers expected to be posted by its American rival Coinbase .

Binance, however, questioned the accuracy of Bloomberg’s calculations, saying the crypto is far too volatile to allow concrete estimates.

In addition to being exposed to the volatility of cryptocurrency prices, the exchange also faced an onslaught of regulatory reviews earlier this year.

FTX CEO Sam Bankman-Fried and Coinbase CEO Brian Armstrong have fortunes of $ 15.4 billion and $ 8.93 billion, respectively.

Elon Musk , CEO of Tesla , remains by far the richest person in the world with an estimated wealth of $ 263 billion. Amazon founder Jeff Bezos and French fashion mogul Bernard Arnault are in second and third place, respectively ($ 188 billion and $ 171 billion).

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